S&P Upgrades City’s LTGO Bonds Rating and Reaffirms City of Tacoma’s Sustained Fiscal Health
TACOMA, Wash. – Standard & Poor’s (S&P) Global Ratings announced a ratings upgrade from ‘AA’ to ‘AA+’ on the City of Tacoma’s outstanding limited tax general obligation (LTGO) bonds. The rating action reflects S&P’s view that Tacoma will continue its record of strong financial performance and very strong management with a structure of strong financial policies and practices.
“This is great news for Tacoma,” said Mayor Victoria Woodards. “This ratings upgrade reflects the City of Tacoma’s focus on sustainable budgeting policies and responsible stewardship of our community members’ tax dollars.”
The ratings upgrade recognizes the strong performance of the local economy, as well as management’s focus on positioning the City of Tacoma to be able to weather possible future economic downturns.
“We’re pleased to receive this ratings upgrade. We will continue to implement and follow sound financial policies, budgetary controls and oversight which will support the City of Tacoma’s sustained fiscal health,” said City Manager Elizabeth Pauli.
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